Borussia Dortmund (BVB) Q4 2026 (Media) earnings summary

Executive summary

• Revenue decreased to €460.5M in 2025/2026 from €526.0M in 2024/2025, a decline of €65.6M.

• Net loss for 2025/2026 was €21.7M, compared to a net profit of €6.5M in the prior year.

• Decline in revenue mainly due to lower TV marketing income after failing to reach the UEFA Champions League round of 16 and reduced FIFA Club World Cup income.

• Transfer business result improved by €21.4M year-over-year, reaching €59.3M.

Financial highlights

• EBITDA fell to €92.2M from €115.9M year-over-year.

• EBIT dropped to -€19.2M from €10.5M in the previous year.

• Earnings before taxes (EBT) were €-20.3M, down from €9.5M year-over-year.

• Cash flow from operating activities increased to €63.9M from €57.7M.

• Cash and equivalents at period end declined to €3.7M from €20.6M.

Outlook and guidance

• Revenue for 2026/2027 is projected between €485M and €495M.

• Net result is forecasted between €0M and €10M for 2026/2027.

• Guidance may be revised based on transfer deals or sporting success.